QRG Capital Management Inc. Boosts Stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

QRG Capital Management Inc. raised its position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 379.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,283 shares of the company’s stock after buying an additional 35,829 shares during the quarter. QRG Capital Management Inc.’s holdings in Dr. Reddy’s Laboratories were worth $715,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of Dr. Reddy’s Laboratories by 271.5% in the 4th quarter. Bank of New York Mellon Corp now owns 82,006 shares of the company’s stock worth $1,295,000 after buying an additional 59,930 shares during the last quarter. Wealthstream Advisors Inc. grew its position in Dr. Reddy’s Laboratories by 427.4% in the fourth quarter. Wealthstream Advisors Inc. now owns 14,546 shares of the company’s stock worth $230,000 after acquiring an additional 11,788 shares in the last quarter. Legacy Capital Group California Inc. increased its stake in Dr. Reddy’s Laboratories by 404.1% during the fourth quarter. Legacy Capital Group California Inc. now owns 13,741 shares of the company’s stock worth $217,000 after acquiring an additional 11,015 shares during the last quarter. Ieq Capital LLC raised its position in Dr. Reddy’s Laboratories by 444.7% during the fourth quarter. Ieq Capital LLC now owns 20,753 shares of the company’s stock valued at $328,000 after purchasing an additional 16,943 shares during the period. Finally, Sierra Ocean LLC bought a new stake in shares of Dr. Reddy’s Laboratories in the 4th quarter valued at approximately $43,000. Institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Stock Up 0.3 %

Shares of NYSE:RDY opened at $12.80 on Wednesday. The firm has a market capitalization of $10.68 billion, a PE ratio of 20.37 and a beta of 0.50. The business has a 50 day simple moving average of $14.40 and a two-hundred day simple moving average of $15.03. Dr. Reddy’s Laboratories Limited has a 1 year low of $12.62 and a 1 year high of $16.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.38.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Dr. Reddy’s Laboratories had a return on equity of 17.87% and a net margin of 17.25%. On average, equities analysts predict that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RDY shares. Nomura downgraded Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th. Barclays cut their price objective on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 6th.

About Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company’s Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations, as well as engages in the biologics business.